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Milton Friedman on Free markets and the price system

There is an invisible hand in politics that operates in the opposite direction to the invisible hand in the market.
An Economist's Protest: Columns in Political Economy
Book, 1966, p. 143
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  1. At any rate, simple slogans like “The market will take care of it” or “noninterventionism” do not resolve the hard problems. We may very well agree on the direction we want to go in, but just how we’re going to go there and how far we’re going to go, that’s a much more difficult problem.
    Say 'No' to Intolerance
    Speech, 1991, Liberty, vol. 4, no. 6 (July 1991), p. 20
    Checked against the sourceRead the original
  2. The emphasis of that talk was that free markets would undermine political centralization and political control. And incidentally, I should say that I was not in Chile as a guest of the government. I was in Chile as the guest of a private organization.
    Commanding Heights: Milton Friedman interview
    Interview, 2000, PBS, “On His Role in Chile Under Pinochet,” interview conducted October 1, 2000
    Checked against the sourceRead the transcript
  3. The Chilean economy did very well, but more important, in the end the central government, the military junta, was replaced by a democratic society. So the really important thing about the Chilean business is that free markets did work their way in bringing about a free society.
    Commanding Heights: Milton Friedman interview
    Interview, 2000, PBS, “On His Role in Chile Under Pinochet,” interview conducted October 1, 2000
    Checked against the sourceRead the transcript

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